Housing Market Report
Bay County, MI
Data through February 2026 · Updated monthly
Homes are selling quickly with few price cuts
Avg Home Value
$174,544
▲ 6.2% year-over-year
Days to Pending
23 days
Homes For Sale
264
Avg Rent/Month
$1,268
▲ 2.7% year-over-year
The Bay County, MI housing market is continuing to appreciate. The average home value is $174,544, up 6.2% year-over-year as of February 2026. Homes are spending a median of 23 days on the market before going pending. 0.2% of active listings have had a price cut.
Bay County leans toward a seller's market, with 0.3% of homes selling above list price and 0.5% selling below. There are currently 264 homes for sale in the county, with 70 new listings hitting the market each month. The median sale-to-list ratio is 99.0%.
The average asking rent in Bay County is $1,268 per month, up 2.7% year-over-year. For investors, the gross rent multiplier on a median-priced home is approximately 11.5, indicating strong cash flow potential for buy-and-hold strategies.
For homebuyers, the estimated monthly mortgage payment on a median-priced home in Bay County with 10% down is $1,083. That is $185 less per month than the average rent, making buying potentially more affordable than renting. Homes are selling 3.6% below asking price on average, giving buyers room to negotiate.
Bottom-tier homes (under the 33rd percentile) are currently valued at $111,998, making them the primary target range for investors looking at wholesale deals, fix-and-flip projects, or BRRRR strategies.
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Market Snapshot
Bay County Housing Market at a Glance
Key metrics for Bay County as of February 2026. Year-over-year changes show how the market has shifted in the last 12 months.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $171,380 | $172,966 | $174,544 | ▲ 1.8% |
| Single Family Value | $169,220 | $170,797 | $172,365 | ▲ 1.9% |
| Median List Price | $189,933 | $185,083 | $178,450 | ▼ 6.0% |
| Avg Rent/Month | $1,281 | $1,266 | $1,268 | ▼ 1.0% |
| Homes For Sale | 316 | 294 | 264 | ▼ 16.5% |
| New Listings | 112 | 84 | 70 | ▼ 37.5% |
| % Listings w/ Price Cut | 0.3% | 0.3% | 0.2% | ▼ 20.7% |
Home Values
Bay County Home Value Trend (2000–2026)
All-home median values including the 2008 housing crash, 2020 COVID surge, and 2022 rate shock. Switch between All Homes, Single Family, Bottom Tier, Top Tier, and Rent to compare trends.
Source: Zillow Research ZHVI / ZORI · Updated monthly
Market Breakdown
What Homes Cost in Bay County
Home values broken down by bedroom count, ZIP code neighborhood, and property type. 3-bedroom homes are valued at $182,892 in Bay County. 1-bedroom units start at $79,414.
| Bedroom Count | Avg Value | Last 30 Days | Last Year |
|---|---|---|---|
| 1 Bedroom | $79,414 | ▲ 0.7% | ▲ 3.6% |
| 2 Bedrooms | $122,302 | ▲ 0.8% | ▲ 6.7% |
| 3 Bedrooms | $182,892 | ▲ 0.8% | ▲ 6.5% |
| 4 Bedrooms | $189,067 | ▲ 0.7% | ▲ 5.5% |
| 5+ Bedrooms | $205,252 | ▲ 0.7% | ▲ 4.0% |
The table above reflects average home values and rent in Bay County, broken down by bedroom count, neighborhoods, and property types. Data sourced from Zillow Research.
Market Tiers
Buyer vs. Investor Segments
Bottom-tier homes (under 33rd percentile) are the primary target for wholesale investors using the 70% rule. In Bay County, bottom-tier homes are valued at $111,998.
Bottom Tier
Under 33rd percentile
$111,998
▲ 7.2% YoY
Wholesale / investor range
Mid Tier
33rd-67th percentile
$174,544
▲ 6.2% YoY
Typical buyer range
Top Tier
Over 67th percentile
$280,123
Luxury / high-end
Market Activity
Supply, Demand and Pricing Power
How quickly homes are selling, how many are available, and whether sellers or buyers have the upper hand in Bay County.
Homes For Sale
264
70 new/month
% Sold Below List
0.5%
0.3% sold above
% Listings w/ Price Cut
0.2%
$5,000 median cut
Median Days to Close
26 days
23 days to pending
Median List Price
$178,450
Median Sale Price
$171,950
99.0% sale-to-list
Affordability
Monthly Cost to Own in Bay County
Estimated mortgage payments on the median-priced home at current rates. Compare against the average rent of $1,268/month to evaluate buy vs. rent.
| Down Payment | Est. Monthly Payment |
|---|---|
| 5% down | $1,529/mo |
| 10% down | $1,469/mo |
| 20% down | $1,233/mo |
Avg rent in this market: $1,268/month · Mortgage estimates based on Zillow data at prevailing rates
Rental Market
Rent Trends in Bay County
Zillow Observed Rent Index (ZORI) tracks typical asking rent, controlling for quality mix. Rent in Bay County is up 2.7% compared to last year. At current prices, the price-to-rent ratio is 11.5x annual rent.
Avg Asking Rent
$1,268
Year-over-Year
+2.7%
▲ 2.7%
Month-over-Month
+0.2%
▲ 0.2%
Price-to-Rent Ratio
11.5x
Rent trend (ZORI)
Source: Zillow Research ZHVI / ZORI · Updated monthly
Metro Context
Bay County vs. Bay City
How Bay County compares to the broader Bay City metropolitan area.
| Metric | Bay County | Metro Avg |
|---|---|---|
| Avg Home Value | $174,544 | $199,404 |
| Days to Pending | 23 days | -- |
| % Sold Below List | 0.5% | -- |
| Avg Rent/Month | $1,268 | $857 |
Nearby Markets
Other Counties in MI
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Data Sources and Methodology
Market data on this page comes from the Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI), updated monthly by Zillow Research. ZHVI measures the typical home value for a given region based on Zillow's proprietary automated valuation model, smoothed and seasonally adjusted to remove noise. ZORI measures the typical observed market-rate rent across the region, controlling for quality mix changes.
Sale price, inventory, days-on-market, and sale-to-list metrics are sourced from Zillow Research public data releases. All data is refreshed on the 17th of each month. This report was last updated February 2026.
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